Information about echo

How it works

How it works is free to join & free to list, with no time limit on the listings.

Posting a listing 

- Sign up and Link your bank account (to use stripe) or PayPal Business account so you can receive online payments.

- Click "Post a new listing", set your own price, deposit, add pictures and rental terms and conditions.

Your advert goes live.

Just wait for your first booking!

- You will receive a booking request when a user would like to rent your item.

-  Accept (or decline) the request.

- If accepted, the total rent value is transferred from the user to your bank or PayPal account

Depending on which services are configured in the settings page (Stripe / Paypal)

 7% of the transaction total is credited to echo at this point.

(Updated Sept 2017 as echo now handles all Stripe fees, and does not pass these charges on to its users)

 Note : Min. Transaction : £0.50   Min. Fee : £0.30

Stripe Fees are included in echo commision, however if using Paypal, Fees apply in addition.

- Use the built-in messenger to discuss particulars e.g the location and time for the exchange.

- Exchange the item for the deposit.

---Item is rented for agreed time---

- At the end of the rental agreement the item & deposit are returned.

- Feedback can then be made on each member

Renting an Item

- Rent using credit / debit card or link your PayPal account to make online payments.

- Search either location, product , or both.

- Be sure to read the particulars such as "deposit required".

- Select the desired days and click "Rent"  ( availability calendars indicate if the item is already booked )

- Once the rental is accepted, the total value is transferred from your account the the vendors.
- No fees for the renter, if the total for rental is £35 , you pay £35.

- Use the built-in messenger to discuss particulars e.g the location and time for the exchange.

- Exchange the item for the deposit.

- At the end of the rental agreement the item & deposit are returned.

- Feedback can then be made on each member.

Feel free to hit "Contact us" with questions or feedback.

Note : The "rental agreement" including specific terms and conditions is made between the two users.
echo is the platform joining people together and accepts no liability including any loss or damage of listed items.

Fees Example

An item is rented out for 3 days, at £10 / day.
Making £30 GBP Total paid by the customer renting the item.

That £30 is transferred from the customers credit /debit card (stipe) or Paypal account to the listing users bank account (stripe) or Paypal Business account.

The user who listed the item is charged 7% in commission to echo (£2.10)

If using stripe, no further fees are charged.

If using PayPal, charges  between 1.9% to 3.4% depending on sales volume.
This can change to 5% if paying in a foreign currency for example,
Links to current PayPal fees are available when listing an item.

Using 3.4% as an example that's £1.02 to PayPal
Followed by £0.20 per Paypal transaction
Total of 1.22GBP to PayPal.

Therefore, £30 rental, the listing user receives :

 PayPal total received £26.68
   (£30 (-£2.10echo)(-£1.22 PayPal fees))

 Stripe total received £ 27.90
(£30 (-£2.10echo) (echo pays stripe fees))

Please check current PayPal fees before listing, there is a link to the current PayPal fees for easy access, at the point of confirming the listing.

Sign up with Stripe

Sign up with PayPal

The echo Team